Written by Amira Zubairi
BDC Capital said this funding will go towards increasing the sector’s innovation, productivity, and ability to scale globally.
“Over the past five years, we deployed close to $1.2 billion dollars in growth capital via more than 750 transactions,” said Patrick Latour, senior vice president of growth and transition Capital at BDC Capital. “This initiative is a natural continuation of our efforts to support Canada’s SMEs with their growth and transition projects. The capital will be deployed over five years and includes higher-risk solutions such as cash flow, mezzanine, and equity.”
BDC’s executive vice president Jérôme said this investment is useful, especially as more high-impact companies seek growth capital to finance the development of new products, hiring and retaining of employees, and expanding into new markets.
“In later stages of growth, we have also noticed unmet demand for minority equity tickets. Our high level of expertise and proven capacity to collaborate on deals with financial institutions in Canada, allows BDC to take on more risk and help entrepreneurs secure the growth capital required to pursue rapid growth opportunities,” said Nycz.
In November 2016, BDC Capital committed to funding a number of industries, including the launch of a $135 million fund for cleantech startups, and participating in a $1 billion fund for Alberta businesses.
In March 2017, PwC found that BDC Capital was the most active investor of 2016.
StartUp HERE Toronto is a publishing partner of Betakit and this article was originally published on their site.